This is how the 1% shop for clothes Your annual paycheck is just a fraction of what these people pay for their wardrobeYour annual paycheck is just a fraction of what these people pay for their wardrobe.

Fed is no longer worried about every market hiccup, economist Lavorgna says Central bank’s new diagnosis and tougher treatment plan likely a mistake, veteran Fed watcher says Joseph Lavorna, a longtime Fed watcher, now with French firm Natixis, thinks the central bank has the wrong diagnosis about the economy and its medicine will do more harm than good.

NIO, potential Tesla rival from China, files for $1.8 billion U.S. IPONIO Inc. , a Chinese startup developing premium all-electric cars, filed for an initial public offering for American depositary shares Monday. NIO named a target raise of $1.8 billion, though the target listed on a first filing is typically an estimate used to determine expected fees and is updated with a more solid number in subsequent filings. suggested that NIO had secretly filed for an IPO and was hoping to raise up to $2 billion. The company just began showing revenue this year, reporting $6.7 million in vehicle sales and $7 million in total revenue in the first six months of 2018, when it lost more than $500 million. The company reported a loss of $758.8 million in 2017. NIO has faced many comparisons with Tesla Inc. , especially with its focus on premium electric automobiles, and NIO mentioned Tesla 13 times in . The company expects to list its ADS on the New York Stock Exchange under the ticker symbol NIO, and has enlisted Morgan Stanley, Goldman Sachs and JP Morgan as underwriters.

Doing this one thing could make you a better investor — and it’s free A bad lifestyle choice that can have real-world consequences for your retirement portfolio A bad lifestyle choice that can have real-world consequences for your retirement portfolio

Here are all the ways the new tariffs are going to hit your pocketbook From sodas and beer to cars and washing machines, expect to pay moreWhat could actually end up costing more in this escalating trade war? The list is longer than you might think.

The Founding Fathers would have impeached corrupt Trump in a New York minute The Founding Fathers had someone just like Donald Trump in mind when they banned any and all emoluments to the president from any foreign or state governmentsThe Founding Fathers had someone just like Donald Trump in mind when they banned any and all emoluments to the president from any foreign or state governments, writes Rex Nutting.

Are you and your retirement funds ready for the next recession? How to manage your money based on U.S. economic prospectsHere’s how you can take advantage of today’s good economy to prepare for the inevitable bad economy.

Trump says boycott of Harley-Davidson would be ‘great’ Motorcycle maker moving some production overseas due to tariffsPresident Donald Trump said a planned boycott of iconic American motorcycle manufacturer Harley-Davidson for wanting to move some of its operations outside the United States would be “great.”

Another consequence of high college costs: Foreclosure A new study suggests that high college costs may have exacerbated the foreclosure crisisA new study suggests that high college costs may have exacerbated the foreclosure crisis.

With rent surging, these startups offer to pay the security deposit Executive estimates that 25% of renters struggle to secure an apartmentNow a new wave of start-ups is trying to apply fintech principles to helping ease some of the angst of getting into a rental agreement

‘Suicidal’ mechanic crashes plane after stealing it from Seattle’s SeaTac airport Authorities quickly determined this wasn’t an act of terrorismA suicidal mechanic stole a propeller airplane at Seattle–Tacoma International Airport on Friday and crashed it into a nearby island, authorities said.

Ex-White House aide Omarosa Newman says Trump ‘racist’ in new book Trump’s spokeswoman calls book ‘riddled with lies’ Donald Trump is a “racist” who regularly used the “N-word” on the set of “The Apprentice,” claims Omarosa Manigault Newman, who starred on the show and then followed the president to the White House.

Melania Trump’s parents become American citizens Viktor Knavs, 74, and his wife Amalija, 73, who had been living in the U.S. as permanent residents, gained pathway to citizenship via ‘chain migration’ policy pilloried by President TrumpViktor Knavs, 74, and his wife Amalija, 73, had been living in the U.S. as permanent residents before taking the oath of citizenship in New York on Thursday.

News Corp sees 29% surge in quarterly revenueThe consolidation of Australian television assets helped News Corp boost revenue substantially in the June quarter, but also led to a write-off that weighed on the company's bottom line. News Corp in April completed the merger of Foxtel and Fox Sports Australia, and wound up with a controlling stake in the resulting entity, which is now one of the largest pay-TV, sports and entertainment outlets in Australia.

Tour operators take a flyer on multi-thousand-dollar drone photography trips Want to fly drones at the Arctic Circle or on an African safari? Tour companies are finding a new niche: drone pilotsMore tour companies are starting to offer “drone packages” as part of their vacations to exotic or hard-to-reach locales like Norway and the Arctic Circle.

N.Y. Times keeps adding subscribers, though slowerDigital subscriptions continued to be the main driver of growth at New York Times Co. in the second quarter, but customer additions slowed and digital ad revenue fell, weighing on the company's top line.

Trump’s report card: Good marks for jobs, but other subjects need improvement Marks on economic subjects are hit and miss, and the president doesn’t play well with othersCaroline Baum gives Donald Trump a report card on how he’s doing on the economy.

Gold logs back-to-back gain as the dollar and government bond yields pull back Silver futures register a 0.4% climbGold futures books a second straight finish in positive territory as the U.S. dollar and government bond yields both retreat, providing support for bullion to climb.

Trump lawyers seek to narrow scope of Mueller's interview: NYTLawyers for President Donald Trump rejected Special Counsel Robert Mueller's terms for an interview in the Russia probe and have countered with an offer that suggested a narrower scope, Citing people familiar with the matter, the report said that Trump's lawyers did not want him answering questions about whether he obstructed justice.

Pound skids to 10-month low and there’s more pain to come Against euro in particular, sterling has more room to slide, says BNY Mellon analystThe British pound slumps to a level not seen since October 2017 versus the euro on Wednesday, and this could open up the ailing U.K. currency to even more pain, writes Simon Derrick, chief currency strategist at BNY Mellon.

New York Times shares fall 5.3% despite beating Wall Street earnings expectationsShares of the New York Times Company fell 5.3% in premarket trading Wednesday despite announcing second-quarter earnings that beat revenue and profit expectations. Profit for the latest quarter rose to $23.6 million, or 14 cents a share, from $15.6 million, or 9 cents a share, in the same period a year ago. Adjusted EPS was 17 cents, beating the Factset consensus of 13 cents. Revenue rose to $414.6 million from $407.1 million a year ago, beating the FactSet consensus of $411 million. While subscription revenue rose 4.2% to $260.6 million, primarily due to an increase of 19.6% to $98.7 million in its digital subscription revenue, the company's ad revenue fell 9.9% to $119.2 million. Digital advertising revenue decreased 7.5%, which the company attributed to a smaller audience and a decline in creative service revenues, while print advertising revenue decreased by 11.5%. The stock has gained 31% in the year to date, while the S&P 500 has gained 7%.

New York Times shares slide 3% premarket

4:38 a.m. Aug. 8, 2018

New York Times sees other revenue up about 50% in Q3

4:37 a.m. Aug. 8, 2018

New York Times sees Q3 ad revenues down in low-single digits; digital ads up about 10%

Nearly half of Republicans say Trump should have power to shut down mediaPresident Trump’s repeated cries of “fake news” and attacks on journalists as “enemies of the American people” have resonated with his base, with 43% of Republicans saying he “should have the authority to close news outlets engaged in bad behavior.”

Ryan thought Trump’s ‘Boy Scout’ nickname was a compliment | White House reportedly wants to limit citizenship for legal immigrants How Ohio’s special election will provide midterm-election clues What Ohio’s special election on Tuesday will say about the midterm elections; the Trump administration reportedly wants to limit citizenship for legal immigrants; a legal fund for Trump aides raises $200,000; and more.

European stocks close lower as trade tensions flare up again HSBC shares slip after earnings European stock markets finish down slightly Monday, as traders digest a flare-up in trade tensions between the U.S. and China as well as another round of earnings reports.

Want to banish plastic straws and water bottles from your life? Here’s a game plan Kraft Heinz is the latest company to commit to reducing plastic wasteKraft Heinz is the latest company to commit to reducing plastic waste.

The bizarre new way people are finding jobs: Tinder Singletons are hitting up people on Tinder and OKCupid to get a leg up in their careerSingletons are hitting up people on Tinder and OKCupid to get a leg up in their career.

Kamala Harris has a terrible idea to lower the high cost of renting Rent control or tax credits won’t fix the affordability problem; only more houses willRent control or tax credits won’t fix the affordability problem; only more houses will, says Rex Nutting.

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